UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________ FORM 10-Q ______________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission File Number: 001-37622 ______________________ Block, Inc. (Exact name of reg ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________________________________ FORM 10-Q _______________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Mark One) For the transition period from to Commission File Number: 001-40470 _____ ...

Financial Performance - Net income for the three months ended September 30, 2025, was $177 million, or $1.99 per diluted share, with adjusted EBITDAX of $855 million[123]. - Cash flows provided by operating activities for the three months ended September 30, 2025, were $860 million, and adjusted free cash flow was $254 million[123]. - Crude oil sales revenue for the three months ended September 30, 2025, was $950 million, a 9% increase from $868 million in the previous quarter[137]. - Natural gas sales revenue for the three months ended September 30, 2025, was $65 million, a 35% increase from $48 million in the previous quarter[137]. - Total product revenue for the three months ended September 30, 2025, was $1.16 billion, a 10% increase from $1.05 billion in the previous quarter[137]. - Product revenues increased 10% to $1.2 billion for the three months ended September 30, 2025, compared to $1.1 billion for the three months ended June 30, 2025, driven by a 7% increase in total sales volumes and a 3% increase in total product pricing per Boe[141]. - Net income for the three months ended September 30, 2025, was $177 million, compared to $124 million for the previous quarter and $688 million for the nine months ended September 30, 2024[176]. - Adjusted EBITDAX for the three months ended September 30, 2025, was $855 million, an increase from $749 million in the previous quarter and $2,389 million for the nine months ended September 30, 2024[176]. - Net cash provided by operating activities for the three months ended September 30, 2025, was $860 million, compared to $298 million for the previous quarter and $1,877 million for the nine months ended September 30, 2024[179]. - Adjusted Free Cash Flow for the three months ended September 30, 2025, was $254 million, up from $123 million in the previous quarter and $548 million for the nine months ended September 30, 2024[179]. Sales and Production - Total sales volumes for the three months ended September 30, 2025, were 31 MMBoe, with average sales volumes of 336 MBoe per day[123]. - Average crude oil sales price after derivatives for the three months ended September 30, 2025, was $67.87 per Bbl, compared to $66.55 in the previous quarter and $76.16 for the same period in 2024[181]. - Average natural gas sales price after derivatives for the three months ended September 30, 2025, was $1.81 per Mcf, compared to $1.69 in the previous quarter and $0.86 for the same period in 2024[181]. - The company drilled, completed, and turned to sales 78, 94, and 115 net operated wells in the Permian Basin during the nine months ended September 30, 2025[172]. Expenses and Costs - Total operating expenses increased 1% to $895 million for the three months ended September 30, 2025, and decreased 3% to $2.661 billion for the nine months ended September 30, 2025, compared to the same periods in 2024[143]. - Lease operating expense increased 21% to $491 million for the nine months ended September 30, 2025, compared to $405 million for the same period in 2024, with the Permian Basin accounting for approximately 60% of the increase[144]. - Gathering, transportation, and processing expense increased 6% to $88 million for the three months ended September 30, 2025, but decreased 8% to $258 million for the nine months ended September 30, 2025, compared to the same period in 2024[146]. - Severance and ad valorem taxes increased 8% to $81 million for the three months ended September 30, 2025, but decreased 16% to $245 million for the nine months ended September 30, 2025, compared to the same period in 2024[149]. - Depreciation, depletion, and amortization expense decreased 1% to $497 million for the three months ended September 30, 2025, and decreased 5% to $1.4 billion for the nine months ended September 30, 2025, compared to the same periods in 2024[150][151]. - General and administrative expense decreased 2% to $52 million for the three months ended September 30, 2025, and decreased 7% to $162 million for the nine months ended September 30, 2025, compared to the same periods in 2024[152][153]. Capital Expenditures and Investments - Capital expenditures for the three months ended September 30, 2025, totaled $491 million[123]. - Capital expenditures for drilling and completion activities decreased by $200 million year over year, reflecting a 5% reduction in the 2025 capital investment program compared to 2024[172]. Debt and Liquidity - As of September 30, 2025, liquidity was $2.2 billion, consisting of $56 million in cash and $2.1 billion in available borrowing capacity on the Credit Facility[163]. - Total sources of cash and cash equivalents for the nine months ended September 30, 2025, were $4.909 billion, an increase from $3.822 billion in the same period of 2024[168]. - Total uses of cash and cash equivalents for the nine months ended September 30, 2025, were $4.929 billion, compared to $4.902 billion in the same period of 2024[168]. - Interest expense for the three months ended September 30, 2025, was $120 million, compared to $114 million for the three months ended June 30, 2025, with average debt outstanding of $5.5 billion and $5.4 billion, respectively[157]. - For the nine months ended September 30, 2025, interest expense was $341 million, slightly down from $342 million in the same period of 2024, with average debt outstanding increasing from $4.8 billion to $5.4 billion[158]. - As of September 30, 2025, the company had $350 million outstanding under its Credit Facility, with compliance to all financial covenants[186]. Market and Risk Factors - The company is exposed to counterparty credit risk associated with its derivative activities, with contracts executed with 16 counterparties, all having investment grade credit ratings[187]. - The marketability of the company's production is influenced by the availability and capacity of third-party refineries and pipeline infrastructure, which could affect pricing and production plans[190].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-36529 CareCloud, Inc. (Exact name of registrant as specified in its charter) Delaware 22-3832302 (State or other jurisdicti ...

Financial Performance - For the three months ended September 30, 2025, net revenue was $31,067,000, an increase of 8.3% from $28,546,000 in the same period of 2024[175]. - Adjusted EBITDA for the nine months ended September 30, 2025, was $19,857,000, up 17.5% from $16,916,000 in 2024[175]. - GAAP net income for the three months ended September 30, 2025, was $3,060,000, compared to $3,122,000 in 2024, reflecting a decrease of 2%[175]. - Adjusted net income for Q3 2025 was $4.41 million, up from $3.47 million in Q3 2024, representing a 27% increase[177]. - Net revenue for Q3 2025 was $31.07 million, a 9% increase from $28.55 million in Q3 2024[194]. - The company reported a GAAP net income of $3.06 million for Q3 2025, compared to $3.12 million in Q3 2024[177]. - Net income was $3.1 million for the three months ended September 30, 2025, and $7.9 million for the nine months ended September 30, 2025[211]. Operating Metrics - Adjusted operating margin for the three months ended September 30, 2025, was 14.5%, an increase from 12.9% in the same period of 2024[175]. - GAAP operating margin for the nine months ended September 30, 2025, was 9.6%, compared to 6.9% in 2024[175]. - Operating income margin for Q3 2025 was 10.4%, compared to 11.5% in Q3 2024[193]. - Direct operating costs as a percentage of net revenue decreased to 52.2% in Q3 2025 from 54.0% in Q3 2024[193]. - Medical practice management services contributed approximately 14% of revenue in Q3 2025, up from 12% in Q3 2024[182]. - Personnel-related costs accounted for approximately 77% of total expenses in offshore operations for the nine months ended September 30, 2025[171]. Cash and Liquidity - The company held cash of approximately $1.2 million in Pakistan and Sri Lanka as of September 30, 2025, compared to $119,000 as of December 31, 2024[164]. - Cash provided by operating activities was $19.9 million for the nine months ended September 30, 2025, an increase of $4.5 million or 29% compared to $15.4 million for the same period in 2024[215]. - The company had total cash of $5.1 million and net working capital of $6.1 million as of September 30, 2025[210]. - The company expects sufficient liquidity to meet its obligations for the next twelve months from the date of the financial statements' issuance[212]. Investment and Financing Activities - Net cash used in investing activities was $21.2 million for the nine months ended September 30, 2025, compared to $5.1 million in 2024, indicating a significant increase in investment[217]. - Capital expenditures increased to $2.7 million in 2025 from $759,000 in 2024, primarily for computer equipment and leasehold improvements[217]. - Payments for acquisitions totaled $16 million during the nine months ended September 30, 2025, highlighting ongoing strategic growth initiatives[217]. - Net cash provided by financing activities was $1.2 million in 2025, a decrease from $10.7 million in 2024, indicating reduced financing activity[218]. - Cash used for preferred stock dividends was $4.8 million in 2025, with additional payments for debt obligations and tax withholding obligations[218]. - Net proceeds and repayments on the line of credit were $6.5 million in 2025, down from $10.0 million in 2024, suggesting tighter credit management[218]. Compliance and Financial Structure - The company maintained compliance with all covenants under its line of credit as of September 30, 2025, ensuring financial stability[219]. - As of September 30, 2025, there were no off-balance sheet arrangements or relationships with unconsolidated entities, indicating a straightforward financial structure[220]. - The company is classified as a smaller reporting company and is not required to provide additional market risk disclosures[221]. Workforce and Technology - The company employs approximately 350 health industry experts in the U.S. and has a specialized offshore workforce of about 3,500 team members[170]. - The AI-powered solutions, such as cirrusAI Notes, save providers 20% more time per day by alleviating documentation burdens[169]. - Revenue from technology-enabled business solutions accounted for approximately 69% of total revenue in Q3 2025, up from 63% in Q3 2024[181].

Financial Performance - Revenues for Q3 2025 reached $104.6 million, a 10.5% increase from $94.8 million in Q3 2024[24] - Net income attributable to common stockholders for Q3 2025 was $1.5 million, compared to a net loss of $1.4 million in Q3 2024[24] - The company reported a comprehensive loss of $1.5 million for Q3 2025, compared to a comprehensive income of $1.9 million in Q3 2024[24] - Basic net income per share for Q3 2025 was $0.01, compared to a loss of $0.01 per share in Q3 2024[24] - Net income for the nine months ended September 30, 2025, was $4,300,000, a significant improvement from a net loss of $18,628,000 in the same period of 2024[29] - Total revenue for the nine months ended September 30, 2025, was $315,190,000, an increase from $284,787,000 for the same period in 2024[80] - Adjusted net income for the nine months ended September 30, 2025, was $56.05 million, up from $48.19 million in 2024[166] - Net income increased by $2.9 million to $1.5 million for the three months ended September 30, 2025, compared to a net loss of $1.4 million for the same period in 2024[202]. Assets and Liabilities - Total assets as of September 30, 2025, were $1.54 billion, a decrease from $1.58 billion as of December 31, 2024[21] - Total liabilities decreased to $471.0 million as of September 30, 2025, from $516.4 million as of December 31, 2024[21] - Cash and cash equivalents as of September 30, 2025, were $172.7 million, down from $179.2 million as of December 31, 2024[21] - The company’s total stockholders' equity as of September 30, 2025, was $1.06 billion, slightly up from $1.06 billion as of December 31, 2024[21] - Long-term debt as of September 30, 2025, was $293,541,000, down from $295,425,000 as of December 31, 2024[95] - Total liabilities were reported at $24,494,000, including contingent liabilities of $21,900,000 and interest rate swap liabilities of $2,594,000[50] Revenue Breakdown - Software revenues increased by $7.9 million, or 22%, to $43.8 million for the three months ended September 30, 2025, primarily driven by a business acquisition[191] - Services revenues increased by $1.9 million, or 3%, to $60.8 million for the three months ended September 30, 2025, attributed to growth in technology-enabled services[192] - Software revenues rose by $23.5 million, or 21%, to $136.9 million for the nine months ended September 30, 2025, primarily due to a business acquisition and strong demand from existing customers[204] - Services revenues increased by $6.9 million, or 4%, to $178.3 million for the nine months ended September 30, 2025, attributed to growth in technology-enabled services[205] Expenses - Operating expenses for Q3 2025 were $61.9 million, up from $55.0 million in Q3 2024, reflecting a 12.5% increase[24] - Sales and marketing expenses increased by $1.7 million, or 15%, to $13.0 million for the three months ended September 30, 2025, mainly due to headcount growth from acquisitions[194] - Research and development expenses increased by $2.0 million, or 24%, to $10.3 million for the three months ended September 30, 2025, driven by employee-related costs associated with software development investments[195] - General and administrative expenses increased by $2.6 million, or 12%, to $24.6 million for the three months ended September 30, 2025, primarily due to increased stock-based compensation costs[196] - Interest expense decreased by $0.2 million, or 3%, to $5.0 million for the three months ended September 30, 2025, primarily due to a decline in market interest rates[199] Shareholder Information - Common shares issued for employee share-based compensation totaled 1,459,757 shares, resulting in an increase of $15,000 in common stock[26] - The total number of common shares outstanding increased from 163,856,290 as of June 30, 2025, to 163,873,911 as of September 30, 2025[25] - The company repurchased 1,230,398 shares, resulting in a treasury stock amount of $(13,810,000) as of September 30, 2025[25] Strategic Initiatives - The company plans to continue investing in scientific talent, sales and marketing, and research and development to support growth[152] - AI and machine learning technologies are being integrated into the company's software and services to enhance drug development processes[144] - The company is undergoing a strategic review of its regulatory services business, which may lead to significant operational changes[157] Market and Economic Conditions - Competition in the biosimulation market is high, with key factors including model quality, regulatory acceptance, and integration capabilities[158] - Macroeconomic conditions, including inflation and interest rates, pose challenges to the business environment[159] Tax and Regulatory Environment - The global effective tax rate (ETR) for the three months ended September 30, 2025, was 671%, significantly higher than 17% for the same period in 2024[130] - The effective income tax rate for the nine months ended September 30, 2025, was 59%, compared to 4% for the same period in 2024, with tax expense increasing by $7.0 million[214] - The company is evaluating the impact of the One Big Beautiful Bill Act (OBBBA) on its operations following significant changes to U.S. tax law[131] Cash Flow and Capital Management - Net cash provided by operating activities increased to $67,508,000, compared to $31,097,000 in the prior year, reflecting a growth of approximately 116%[29] - Cash flow from operations for the nine months ended September 30, 2025, was $67.5 million, up from $31.1 million for the same period in 2024[217] - Cash balances included $71.7 million held outside of the United States as of September 30, 2025, compared to $45.8 million as of December 31, 2024[219]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-36529 CareCloud, Inc. (Exact name of registrant as specified in its charter) Delaware 22-3832302 (State or other jurisdicti ...

Financial Performance - The net loss for the nine months ended September 30, 2025, was $45.1 million, and for the year ended December 31, 2024, it was $132.1 million, with an accumulated deficit of $948.0 million as of September 30, 2025[123]. - The net loss for the three months ended September 30, 2025, was $7,586,000, compared to a net loss of $9,615,000 in the same period of 2024[162]. - Total revenue for the three months ended September 30, 2025, was $3,299,000, a decrease of 24.1% compared to $4,346,000 in the same period of 2024[162]. - Contract research revenue decreased by $160,000 (24.8%) for the three months ended September 30, 2025, compared to the same period in 2024, primarily due to lower overall hours billed for laboratory services[165]. - Licensing revenue decreased by $887,000 (24.0%) for the three months ended September 30, 2025, mainly due to a larger milestone achieved under the Sun Pharma license agreement in the prior year[166]. - Research and development expenses increased by $7,072,000 (118.7%) for the three months ended September 30, 2025, totaling $13,028,000 compared to $5,956,000 in 2024[169]. - The company has incurred significant costs associated with operating as a public company and will need substantial additional funding to support ongoing operations[124]. - The company anticipates incurring net losses in the near term as it continues the development of product candidates and may not generate revenue if clinical trials are unsuccessful or if FDA approvals are delayed[193]. Clinical Trials and Product Development - Bosakitug demonstrated a positive pharmacodynamic, safety, and efficacy profile in a Phase 2a trial, with 94% of patients achieving a 75% improvement in the Eczema Area and Severity Index (EASI) at week 26[106]. - In July 2025, ATI-2138 Phase 2a trial results showed a mean improvement in EASI score of 61% at week 12, with 63% of patients experiencing a clinically meaningful response[111]. - The company initiated a Phase 2 trial for bosakitug in June 2025, expecting to announce top-line data in the second half of 2026[108]. - The company plans to initiate Phase 1b proof-of-concept trials for ATI-052 in asthma and atopic dermatitis in the first half of 2026, with results expected in the second half of 2026[115]. - The Phase 2 trial for ATI-2138 enrolled 14 patients, with 12 completing treatment, indicating a strong safety and tolerability profile[111]. - The company is developing next-generation covalent ITK selective inhibitors and expects to file an IND application in the second half of 2026[116]. Agreements and Financial Obligations - The exclusive license agreement with Biosion includes a total of $30.0 million in upfront cash consideration and warrants to purchase 14,281,985 shares of common stock[127]. - The company agreed to pay up to $125 million upon achieving specified regulatory milestones and up to $795 million upon achieving specified sales milestones under the Biosion Agreement[128]. - The company received an upfront payment of $26.5 million from OMERS in exchange for a portion of future royalty payments related to OLUMIANT® for the treatment of alopecia areata[131]. - The company recognized $2.5 million of non-cash royalty income during the nine months ended September 30, 2025[132]. - An exclusive patent license agreement with Sun Pharma was established, which includes a mid single-digit tiered royalty based on Sun Pharma's net sales[133]. - The company recognized $1.5 million of licensing revenue during the nine months ended September 30, 2025, a portion of which was payable to third parties[134]. - The company agreed to pay up to $75 million in contingent consideration based on specified regulatory and commercial milestones under the Confluence Agreement[141]. - The company recorded a charge of $1.9 million to the contingent consideration liability during the nine months ended September 30, 2025, primarily due to changes in the probability of success for certain product candidates[161]. - The balance of the contingent consideration liability related to the Confluence Agreement was $10.6 million as of September 30, 2025[201]. Cash Flow and Financing - Cash and cash equivalents as of September 30, 2025, were $25.3 million, an increase from $24.6 million as of December 31, 2024[188]. - The company had cash, cash equivalents, and marketable securities totaling $167.2 million as of September 30, 2025[186]. - Net cash used in operating activities for the nine months ended September 30, 2025, was $33,982,000, compared to $11,137,000 in the same period of 2024[189]. - Net cash provided by investing activities increased to $37,996,000 for the nine months ended September 30, 2025, compared to $18,954,000 in the same period of 2024, primarily due to lower purchases of marketable securities and higher proceeds from sales and maturities of marketable securities[191]. - Net cash used in financing activities rose to $3,328,000 for the nine months ended September 30, 2025, compared to $44,000 in the same period of 2024, mainly due to the payment of deferred transaction consideration related to the Biosion Agreement[192]. - The company may engage in additional equity and other financing transactions to raise funds, as it has incurred net losses and negative cash flows from operations since inception[185]. - The company may raise additional capital through the sale of equity or debt securities, which could dilute stockholder ownership[197]. Economic and Operational Considerations - Macroeconomic conditions, including inflation and geopolitical conflicts, may negatively affect the company's growth and results of operations[125]. - Future funding requirements will depend on the resources needed to support the development of product candidates and may be affected by global economic conditions[196]. - The company operates two reportable segments: therapeutics, focused on immuno-inflammatory diseases, and contract research, which earns revenue from laboratory services[204]. - As of September 30, 2025, the company had an aggregate remaining lease payment obligation of $2.7 million for its headquarters and laboratory spaces[200]. - The discount rate applied to potential payments ranged between 6.8% and 8.4% depending on the year of each potential payment as of September 30, 2025[160]. - Probability of success assumptions for regulatory milestones ranged between 21% and 40% as of September 30, 2025[160]. - The company has entered into contracts with CROs and other service providers for clinical trials and manufacturing, which generally allow for termination upon notice, indicating non-cancelable obligations are not material[203].

Revenue Performance - Total revenue for the three months ended September 30, 2025, was $4.121 million, a 2% increase from $4.032 million in the same period of 2024[103] - Total revenue for the nine months ended September 30, 2025, increased by $2.2 million, or 22%, to $12.4 million compared to the same period in 2024[111] Product and Service Revenue - Product revenue decreased by 5% to $2.756 million, while service revenue increased by 38% to $913,000 compared to the prior year[103] Profitability - Gross profit for the three months ended September 30, 2025, was $2.110 million, representing a 9% increase from $1.938 million in 2024[103] - Gross profit for the nine months ended September 30, 2025, increased by $1.3 million, or 25%, to $6.3 million compared to the same period in 2024[110] Expenses - Research and development expenses decreased by 17% to $10.797 million, primarily due to reductions in stock-based compensation and laboratory expenses[107] - Selling, general and administrative expenses decreased by 20% to $10.659 million, mainly due to a reduction in stock-based compensation[108] - Research and development expenses decreased by $3.8 million, or 10%, to $34.1 million for the nine months ended September 30, 2025, compared to the same period in 2024[113] - Selling, general and administrative expenses decreased by $10.9 million, or 25%, to $32.8 million for the nine months ended September 30, 2025, compared to the same period in 2024[114] Net Loss - The net loss for the three months ended September 30, 2025, was $18.234 million, a 15% improvement from a net loss of $21.328 million in 2024[103] - The company incurred a net loss of $57.6 million for the nine months ended September 30, 2025, compared to a net loss of $64.9 million for the same period in 2024[95] Cash Flow and Financial Position - Net cash used in operating activities for the nine months ended September 30, 2025, was $33.6 million, compared to $34.7 million for the same period in 2024[123] - Cash provided by investing activities for the nine months ended September 30, 2025, was $48.6 million, compared to $50.0 million for the same period in 2024[125] - Cash used in financing activities for the nine months ended September 30, 2025, was $10.7 million, compared to $10.2 million for the same period in 2024[127] - As of September 30, 2025, the company had an accumulated deficit of $450.0 million and cash, cash equivalents, and investments totaling $251.2 million[95] - The company anticipates continued net losses and does not expect positive cash flows from operations for the foreseeable future[116] Product Development - The Proteograph Product Suite was launched in May 2025, featuring significant improvements in scalability, reproducibility, and affordability of deep proteomic analysis[90] Commercialization Efforts - The company is focused on expanding its commercialization efforts in the United States and internationally, including building sales and distribution capabilities[92]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2025 ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission file number 001-33957 HARVARD BIOSCIENCE, INC. (Exact Name of Registrant as Specified in Its Charter) (State or other jurisdiction of Incorporation or organ ...